Answer:
$895.22
Explanation:
We use the present value formula to determine the current bond price i.e shown in the attachment below:
Given that,
Future value = $1,000
Rate of interest = 10.5%
NPER = 8 years
PMT = $1,000 × 8.5% = $85
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the current bond price is $895.22
Hi cletus you look like a fetus
Explanation:
area 51
Answer:
Mike must not only consider his accounting costs, but also his implicit costs. Mike's implicit costs (or opportunity costs) should include the $1,500 in interest that he could earn by ending the money to his friend Bob and the amount of money he could earn by working somewhere else.
Answer:
A. Do so regardless of what type of competition exists in a market.